About

What this is

A self-updating research site covering listed shipping companies. Every page is built from public sources — company filings, results releases, stock-exchange announcements and published rate indices — and rebuilt automatically as new information lands.

There is no editor writing the pages: each number is extracted from a source document, stored with its origin, and rendered by the same code for every company. That is the point — it makes companies comparable, and it makes every figure traceable back to where it came from. Where an extraction is wrong or a filing needs reading by a person, a correction is filed as an override beside the quarter it corrects, with the quote it rests on; modelling choices the code cannot make alone are recorded as owner rulings. Both are kept, never edited away.

How a number gets here

1. COLLECT    filings, results releases, exchange notices, rate prints
              → stored with source URL, as-of date, and a quality flag

2. STANDARDIZE  each company-quarter becomes the same file shape:
              fleet → rate → opex/G&A/capex → income → dividend

3. MODEL      vessel days × rate − costs − debt service = cash earnings
              cash earnings + payout policy = expected dividend

4. PUBLISH    every page pre-rendered at build time; no live queries.
              Scripts only draw the charts and re-run the scenario box
              at the rates you set — every published number is in the HTML

The store is append-only. When a figure is corrected, the new value is added and the old one is kept — corrections never quietly overwrite history.

What the labels mean

Numbers differ in how much they are worth trusting, so the site says which kind each one is rather than presenting them all identically.

reported          taken directly from the company's own filing for that period
scheduled         a contractual figure the company has already disclosed
                  (e.g. principal due in the next twelve months)
carried forward   the last reported figure, reused because the current period
                  has not been reported yet — an assumption, labelled as one
modelled          computed by this site from inputs shown alongside it

Where a rate is built from more than one trade route, the page lists the routes and the spread between them, so a headline rate driven by a single extreme route is visible as such rather than presented as a market-wide number.

Why cells are empty

A dash — means not known. It does not mean zero.

This distinction is enforced deliberately throughout. If a company has not disclosed its debt service, the dividend forecast that depends on it is withheld and says which input was missing, rather than assuming zero and printing a confident number that would be wrong. If a model is asked to extrapolate far outside the range it was fitted on, it refuses instead of returning a plausible figure.

The result is that some pages show less than you might expect. That is the intended behaviour: an empty cell is information, and a fabricated one is not.

How often it updates

Rate series are collected once per day. Company news — filings and exchange announcements — is checked more frequently through the day, and pages rebuild when something has actually changed.

If the underlying data has gone stale, a banner appears at the top of every page saying how long it has been. Staleness is measured against the sources that are expected to refresh, so a frozen historical archive does not mask a live feed that has stopped.

What this site will not do

Licensed index series are never republished verbatim. Where a rate is licence-restricted, the site shows issuer-printed values with citation, its own computed aggregates, or a link to the source — see Methodology for the full treatment.

It does not forecast beyond what the inputs support, does not fill gaps with estimates presented as facts, and does not offer investment advice. See the disclaimer.